VisionChina Media Announces Pricing of Initial Public Offering on Nasdaq
December 06 2007 - 6:44AM
PR Newswire (US)
BEIJING, Dec. 6 /Xinhua-PRNewswire/ -- VisionChina Media Inc., one
of China's largest mass transportation mobile television
advertising networks, today announced that its initial public
offering of 13,500,000 American Depositary Shares ("ADSs"), each
representing one common share of the company, was priced at an
initial public offering price of $8.00 per ADS. The ADSs will begin
trading on the Nasdaq Global Market on December 6, 2007 under the
ticker symbol "VISN." VisionChina will sell 13,500,000 ADSs in this
offering. Some shareholders of VisionChina have granted the
underwriters a 30-day option to purchase up to 2,025,000 additional
ADSs to cover over-allotments. Credit Suisse and Merrill Lynch
& Co. acted as joint book runners and lead managers. CIBC World
Markets and Susquehanna Financial Group, LLLP acted as co-managers
for the offering. VisionChina's registration statement relating to
these securities has been declared effective by the United States
Securities and Exchange Commission. This news release does not
constitute an offer to sell or a solicitation of an offer to buy
the securities described herein, nor shall there be any sale of
these securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction. The offering of the securities is made only by means
of a prospectus forming a part of the effective registration
statement. A copy of the prospectus relating to the offering may be
obtained by contacting Credit Suisse by mail, Attn: Prospectus
Department, One Madison Avenue 1B, New York, New York 10010 or
Merrill Lynch by mail, Attn: Prospectus Department, 4 World
Financial Center, New York, New York, 10080. About VisionChina
Media, Inc. VisionChina operates an out-of-home advertising network
on mass transportation systems in China that reaches approximately
26 million viewers each day, according to CTR Market Research.
Through approximately 33,000 mobile digital displays on mass
transportation systems in 14 of some of China's most affluent
cities, VisionChina has the unique ability to deliver real-time,
location-specific broadcasting including news, stock quotes,
weather and traffic reports and other entertainment programming.
For investor and media inquiries, please contact: In China: Mr. AJ
Wang Senior IR Manager, VisionChina Media, Inc. Tel:
+86-10-8418-6339 Email: Mrs. Helen Plummer Ogilvy Public Relations
Worldwide (Beijing) Tel: +86-10-8520-3090 Email: In the United
States: Mr. Jeremy Bridgman Ogilvy Public Relations Worldwide (New
York) Tel: +1-212-880-5363 Email: DATASOURCE: VisionChina Media
Inc. CONTACT: In China - Mr. AJ Wang, Senior IR Manager of
VisionChina Media, Inc., +86-10-8418-6339, or ; or Mrs. Helen
Plummer of Ogilvy Public Relations Worldwide (Beijing),
+86-10-8520-3090, or ; or In the United States - Mr. Jeremy
Bridgman of Ogilvy Public Relations Worldwide (New York),
+1-212-880-5363, or , both for VisionChina Media Inc.
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